If the new governor can think out of the box even as he signals that he can bat for the RBI cadre and respect its institutional memory, that will go a long way in getting out of the current impasse.
Most say a rate cut could come in RBI's June policy.
The chairman of Parliament's Public Accounts Committee, K V Thomas, on Monday said a meeting with finance ministry officials has been deferred to February 10 in view of the Budget preparations.
A cut in rates would have encouraged the banks to lend aggressively on the retail front.
An interesting multi-cornered contest is on the cards for the urban local body elections in Tamil Nadu scheduled for February 19 with opposition parties, which were with the All India Anna Dravida Munnetra Kazhagam till a few days ago, set to take on the ruling DMK banking on their respective party's own strength.
He noted that the Rupee has firmed recently but cautioned that the currency should not lose its competitiveness in global trade.
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ITC, Infosys, Wipro and HDFC Bank among the major losers.
Religion matters. Aspirational India is still poor. India admires strong leaders. India values decency. Shreekant Sambrani highlights the reasons why the BJP pulled off improbable victories in the Hindi heartland.
The Indian economy is likely to grow at over 7 per cent in the current fiscal year, former Niti Aayog vice chairman Arvind Panagariya said on Wednesday, while observing that the growth rate should sustain next year too provided the forthcoming Budget does not have any negative surprises. Panagariya further said recessionary fears have been around for a while but so far neither the US nor the EU has gone into recession. "From the viewpoint of India, in terms of headwinds originating abroad, the worst is probably behind us," he told PTI.
Official GDP data for the second quarter of the current fiscal year ending March are due to for release this Friday.
'When I came here in 2002, I said you can grow at 8%.' 'And I was told that was crazy, and (now) here we are.'
The 30-share Sensex ended higher by 177.46 points at 28,885.21 and the Nifty gained 63.90 points at 8,778.30.
We will find it difficult to exceed an average of 5 per cent growth in the medium term, warns Shankar Acharya, the former chief economic adviser.
While taking gold out of the closet to borrow money is no longer taboo in Indian households, the sharp drop in gold prices is hitting the newest loan product on the banking turf hard, explains Tamal Bandyopadhyay.
Prime Minister Narendra Modi's idea of cooperative federalism is expected to be on display in the 2015-16 Budget.
Finance Minister Nirmala Sitharaman has rebutted Congress leaders Rahul Gandhi and Randeep Singh Surjewala's allegations regarding "wilful defaulters, bad loans and write-offs", and stated that they have "attempted to mislead people in a brazen manner".
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The partially convertible rupee closed at 63.37/38 per dollar compared with 62.83/84 on Monday. The unit dropped 0.85 per cent on the day, its biggest single-day fall in two weeks.
Only Rs 16,050 crore out of the Rs 15.44 lakh crore of the old high denomination notes have not returned.
Swamy had also claimed that Rajan was "mentally not fully Indian" and alleged that he has "wilfully" wrecked the economy
'This is happening regardless of the Budget.'
As industrialist Vijay Mallya fights his wilful defaulter tag, former CAG Vinod Rai has said Kingfisher Airlines' loan default is just a "trickle" and the overall problem of huge bad loans at public sector banks can be blamed on 'cronies' using connections to borrow money.
With a net worth of $12.6 billion, Mistry is well known for constructing some of Mumbai's landmarks such as the Reserve Bank of India headquarters, The Taj Mahal Palace and Towers, and the Oberoi Hotels
The inter-meeting rate cut by the Reserve Bank of India (RBI) indicates a shift in its monetary policy stance, the finance ministry's chief economic adviser Arvind Subramanian said on Thursday.
The 12,000-page charge sheet further claimed that a similar fraud was detected in 2016 following which the RBI took up the issue and issued circulars to all banks.
'The market movement will be largely driven by earnings growth.'
Reserve Bank Governor Raghuram Rajan on Monday slammed International Monetary Fund for staying on the sidelines and applauding accommodative policies of developed nations.
'There are lots of low hanging fruits and often no real impediment to plucking them.'
The rupee has fallen more than 2 per cent against the dollar since the yuan devaluation
I kept insisting that Rs 100 notes were in short supply and there was an urgent need to augment the supply of 100 rupee notes while also rapidly bringing into circulation the proposed new Rs 500 notes. But this was easier said than done because all the note printing machines of the RBI were programmed for printing Rs 2,000 notes and required at least three weeks before the machines could print the new Rs 500 currency notes. The availability of currency paper posed another major bottleneck, and it had to be imported. It was decided to immediately start printing the Rs 500 notes. It was only when the supply of the new Rs 500 notes started improving and the process of change of cassettes at the ATMs gathered momentum that the situation began limping back to normal. A fascinating excerpt from former SBI chairman Rajnish Kumar's The Custodian of Trust: A Banker's Memoir, five years after demonetisation, November 8.
The government plans to borrow Rs 6 lakh crore in this financial year.
Private players offer convenience for slightly higher rental than banks.
For India, Fitch Ratings has 'BBB-' rating.
Progress on the steps taken by Governor Shaktikanta Das' predecessor Urjit Patel to restore financial system integrity will be a key thing to assess any damage to the institution, Subramanian said.
The bosses of SBI, Union Bank and Central Bank have been driving down to their offices everyday to take stock of the biggest loan drive ever undertaken for MSMEs, discovers Tamal Bandyopadhyay.
Will Annamalai's attacks on the DMK revert the anti-BJP feeling in Tamil Nadu, asks N Sathiya Moorthy.
Among the other names tipped to make it to the Cabinet are Jyotiraditya Scindia, Sarbananda Sonowal, Baijayant Panda.
The panel is believed to have examined each financial transaction between the Kochhar family and Videocon group, and the suspected trail of properties and assets that the family acquired since Chanda Kochar became ICICI Bank's MD.
Reconstruction efforts after the Russia-Ukraine war will be dominated by the heft of the membership of major nations across international organisations. India is hamstrung because it does not play host to any major global institution nor does it hold positions of significant influence in the ones in which it has membership. As a result, the world's sixth largest economy is obliged to follow the rules set by most of them.
Cash withdrawal limits likely to continue
The appointment will be made by Prime Minister Narendra Modi in consultation with Finance Minister Arun Jaitley.
